HomeMy WebLinkAbout2026-028-02.02.2026.docDocusign Envelope ID: 5274EFEF-4D39-4E67-B678-585CC381AF5D
Prepared by LeAnn M. Even, Deputy City Clerk, City of Waterloo, 715 Mulberry Street,
Waterloo, IA 50703, (319) 291-4323.
RESOLUTION NO. 2025-028
RESOLUTION APPROVING THE REQUEST BY TWIN CARD
HOLDINGS, FOR TAX EXEMPTIONS ON THE
CONSTRUCTION OF A NEW COMMERCIAL BUILDING
VALUED AT $125,000.00, FOR PROPERTY LOCATED AT
1017 JEFFERSON STREET AND LOCATED IN THE
CONSOLIDATED URBAN REVITALIZATION AREA (CURA).
WHEREAS, Twin Card Holdings has requested tax exemptions for the construction of a
new commercial building valued at one hundred twenty-five thousand dollars ($125,000.00) for
property located at 1017 Jefferson Street; and
WHEREAS, the property is located within the Consolidated Urban Revitalization Area
(CURA), making it eligible for such tax exemptions under the applicable statutes and ordinances;
and
WHEREAS, the new construction of this building meets the eligibility criteria as outlined
in the CURA plan, which aims to foster residential development and investment in the urban
core; and
WHEREAS, granting this tax exemption is anticipated to enhance the local commercial
buildings, stimulate economic growth, and promote community revitalization; and
WHEREAS, said applicants are requesting the following 10-year partial exemption
schedule:
For the first year 80%
For the second year 70%
For the third year 60%
For the fourth year 50%
For the fifth year 40%
For the sixth year 40%
For the seventh year 30%
For the eighth year 30%
For the ninth year 20%
For the tenth year 20%
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Waterloo,
Iowa, that:
1. The request for tax exemptions by Twin Card Holdings for the new commercial
building at 1017 Jefferson Street is hereby approved.
2. The property owner, Twin Card Holdings, shall be eligible for specified tax
exemptions subject to compliance with the terms and duration set forth in the CURA.
PASSED AND ADOPTED this 2nd day off February 2026.
Signed by:
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ATTEST: David Boesen, Mayor
Docusign Envelope ID: 5274EFEF-4D39-4E67-B678-585CC381AF5D
Resolution No. 2026-028
Page 2
Signed by:
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Kelley Felchle, City Clerk
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